The tremors from China did not affect the Indian markets though there was selling pressure but the important bottom supports were not breached as posted, either for Nifty or the top 4 heavy weights like RIL, Bharti, SBI and ONGC but the catastrophic cycle effect can be felt tomorrow though F&O closing day.
The Nifty can see down side in June series due to global and local factors. As of now there was no visible cracks seen to the fortress but suggestions from one week are even now valid as “no longs for long”.
Wednesday, May 30, 2007
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